AnaptysBio (NASDAQ:ANAB) Shares Gap Up After Strong Earnings

AnaptysBio, Inc. (NASDAQ:ANAB)’s share price gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $19.88, but opened at $22.21. AnaptysBio shares last traded at $21.23, with a volume of 41,187 shares changing hands.

The biotechnology company reported ($1.14) EPS for the quarter, topping the consensus estimate of ($1.72) by $0.58. AnaptysBio had a negative net margin of 558.25% and a negative return on equity of 255.68%. The business had revenue of $30.02 million during the quarter, compared to analyst estimates of $7.92 million.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ANAB. JPMorgan Chase & Co. lifted their target price on shares of AnaptysBio from $69.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Wedbush reaffirmed an “outperform” rating and issued a $42.00 target price on shares of AnaptysBio in a report on Wednesday. HC Wainwright reissued a “buy” rating and set a $55.00 price objective on shares of AnaptysBio in a research note on Thursday, October 31st. Truist Financial boosted their price objective on AnaptysBio from $20.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Finally, Guggenheim boosted their target price on AnaptysBio from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, AnaptysBio has a consensus rating of “Moderate Buy” and a consensus target price of $55.73.

Insider Activity at AnaptysBio

In related news, insider Paul F. Lizzul sold 1,500 shares of AnaptysBio stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $38.67, for a total value of $58,005.00. Following the completion of the sale, the insider now owns 15,398 shares in the company, valued at approximately $595,440.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Dennis Mulroy sold 12,220 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $39.91, for a total value of $487,700.20. Following the completion of the sale, the chief financial officer now directly owns 4,744 shares of the company’s stock, valued at $189,333.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Paul F. Lizzul sold 1,500 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $38.67, for a total transaction of $58,005.00. Following the completion of the sale, the insider now directly owns 15,398 shares of the company’s stock, valued at approximately $595,440.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,440 shares of company stock worth $892,936. Insiders own 33.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new stake in AnaptysBio during the first quarter worth about $38,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of AnaptysBio during the first quarter valued at approximately $265,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of AnaptysBio during the first quarter valued at approximately $1,221,000. Acadian Asset Management LLC purchased a new position in shares of AnaptysBio during the first quarter valued at approximately $420,000. Finally, Platinum Investment Management Ltd. purchased a new position in shares of AnaptysBio during the first quarter valued at approximately $1,490,000.

AnaptysBio Price Performance

The firm’s 50-day moving average is $33.59 and its 200 day moving average is $29.94. The stock has a market cap of $598.06 million, a price-to-earnings ratio of -3.34 and a beta of -0.24.

About AnaptysBio

AnaptysBio, Inc, a clinical-stage biotechnology company, focuses in delivering immunology therapeutics. Its products include Rosnilimab, an IgG1 antibody that targets PD-1+ T cells, resulting in their agonism or depletion, broadly impacting pathogenic drivers of autoimmune and inflammatory diseases; and ANB032, a non-depleting antibody that binds to the BTLA checkpoint receptor and inhibits activated T cell proliferation; ANB033, a novel anti-CD122 antagonist antibody that targets the shared common beta subunit of the receptors for IL-15 and IL-2; ANB101, a BDCA2 modulator antibody that specifically targets plasmacytoid dendritic cells (pDCs); and Imsidolimab, an antibody that inhibits the interleukin-36 receptor, which is in the Phase 3 development for the treatment of generalized pustular psoriasis.